Tech stocks bounce back on the heels of strong Twitter, Microsoft and Tesla earnings

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  • Tech stocks rose Thursday after an ugly day Wednesday.
  • The lift comes on the heels of positive earnings reports by Twitter on Thursday and Microsoft and Tesla on Wednesday.
  • Alphabet, Amazon, Intel and Snap are all expected to report earnings after the bell on Thursday.

 

ech stocks rallied Thursday on the heels of several positive tech earnings reports. The Nasdaq Composite Index rose as much as 1.4 percent at the open, a day after closing down 4.43 percent.

Following plummeting stocks across the sector on Wednesday, tech companies already started to see a lift after the bell when Microsoft and Tesla both reported estimate-beating earnings. Twitter reported positive earnings before the bell on Thursday, sending the stock soaring as high as 17 percent.

Twitter beat revenue and earnings estimates despite purging a large chunk of suspected bot accounts earlier this year. While Twitter reported lower monthly active users, its daily active users have increased. Following Twitter’s earnings release, Snap saw a lift over 3 percent in premarket trading and opened up about 2.5 percent.

Tech stocks will be closely watched through the end of the week as Alphabet, Amazon, Intel and Snap are all expected to report earnings after the bell on Thursday.

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